Vietnam – potential market of Russian businesses

A platform in Bach Ho field of the Vietnam-Russia joint venture Vietsovpetro (Source: VNA)

Chief Representative of the Russian Export Centre in Hanoi Robert Kurilo said Vietnam and Russia became members of the Eurasian Economic Union (EAEU) in 2016. Since then, the bilateral trade exchange has increased significantly. Many Russian products including farm produce have been present in Vietnam and vice versa, he added. There is a wide room for the two countries to boost cooperation in tourism, agriculture and oil and gas, Kurilo said, noting that Russian firms are especially keen to collaborate with Vietnamese partners in developing tourism and agri-products. Vietnam has a lot of delicious fruits and farm produce while the demand for such products in Russia is really huge. Russia is importing various kinds of fruits from countries in the Southeast Asian region. This will be an excellent opportunity for Vietnamese businesses to boost exports to the market, he said. Nguyen Viet Anh from Nafoods Group JSC said his company is seeking partners to expand its exports to Russia. Anh said Russia is a huge market that has big demand for farm produce and tropical fruits. He hoped to establish partnership with Russian import-export companies to make inroads into the market in the coming time. Russian firms not only want to import farm produce and aquatic products from Vietnam but also expect to bring Russian food products to Vietnamese customers. Gostevskikh Mikhail, managing director of Siberia company, said Russian businesses consider Vietnam an attractive destination to implement new commercial development strategies. Vietnam is one of the fastest growing economies in Asia with improved local living standards and increasing demand for high-quality and safe products. Vietnam is not only a potential economic partner of Russia but also a close friend of Russian people, Mikhail said, adding that he believes the bilateral trade will reap positive outcomes in the coming time with the efforts of two sides’ State agencies and businesses. Sergey Klishin from Schelkovo Agrohim, one of the largest manufacturers of pesticides in Russia, said his company is seeking opportunities to export its products to Vietnam as the Southeast Asian country boasts a large area for agricultural production. At the forum, participants suggested Vietnam and Russia step up trade promotion and business connectivity to create more opportunities for enterprises to seek partners and set up long-term partnerships.-VNA